From Kindling to Wilfire: Position, Act and Sustain Business Growth with Patrick Kennedy

POSITION, ACT & SUSTAIN

Patrick KennedyAvison Young – Austin (formerly COO of Commercial Texas)

2

POSITION ACT SUSTAIN

Or is it: Act, Position, Sustain?Act, Sustain, Position?

Position (28 slides)Act (1 slide) Sustain (1 slide)

3

POSITION

4

5

What do you love?

aka: What are your core values?

6

Accomplishment Support Create Magnificence Strengthen Attractiveness Ethics Charity Order Enlightenment Bliss Constancy

Generosity Inspiration Happiness Diversity Detection Self-worth Hope Imagination Truthfulness Teaching Delight Alignment

Innovation Honesty Gratitude Dare Consideration Resourcefulness Health Fun Nurturance Excellence Nobility Responsiveness

Observation Wisdom Reliability Information Awareness Compassion Understanding Guidance Comprehending Humility Instruction Freedom Contentment Simplicity Community Merriment Organization Strength

Intelligence Loyalty Amusement Assistance Peacefulness Being Recognition Calm Stability Dependability Danger EleganceAuthenticity Integrity Dignity Provider Victory Cooperation

Pleasure Positive attitude Environment Knowledge Experiment Self-awareness Explain Experience Grace Empathy Learning Fame

Expertise Touch Truth Wholeness Creativity Radiance Power Inventiveness Superiority Wealth Exquisiteness Play Peace Religious/Religion Love Joy Contribution Safety Honor Schooling Proficiency Emotional Wellbeing Fitness Presence

Inner peace Tranquility Influence Serenity Quest Encouragement Preparation Feeling good Direct Originality Sensations Beauty Sensuality Encourage Personal Development Respect Relaxation Discovery

Justice Connection Economic Security Equality Laughter Education Risk Acceptance Kindness Relationships Fairness Family

Perception Tenderness Coach Adventure Success Leadership Distinguish Relatedness Discrimination Energy Spirituality Friendship

Trust Responsibility Independence Acquisition Consciousness Vision Stimulation Improvement Harmony Achievement Facilitation Mastery

Effectiveness Faith Altruism Entertainment Winning Courage Service __________ __________

7

RULES1. Eliminate half in one sitting2. Take a day of rest3. Eliminate half of the remaining4. Take a day of rest5. Of the remaining, select 4-6

8

BREAK

What gives with all this hokem?

I thought I was in a business presentation!!

9

10













11

RULES1. Eliminate half in one sitting2. Take a day of rest3. Eliminate half of the remaining4. Take a day of rest5. Of the remaining, select 4-6

12













13

SimplicityEffectivenessFamilyTrustInnovation ?

How do these core values translate to business goals?

14

15

SimplicityEffectivenessFamilyTrustInnovation

Focus on one territory

Hire an assistant

Be home for dinner with family no less than 3 nights a week

Allow assistant to work within their expertise without micromanagement

Experiment with a new sales offering once a quarter

16

The Cookbook

17

Developing Your Cookbook for SuccessFinancial Goals

Monthly Expenses Monthly "Have-To" Expenses Amount Monthly "Want-To" Expenses AmountAutomobile (gas, maintenance, etc.)

$ 500 401(k) Plan

$ 50 Child Care

$ - Rent

$ 650 Clothing

$ 80 Vacation

$ 100 Food (groceries, dining out, etc.)

$ 250 College Fund

$ - Health care (physicians, prescriptions, etc.)

$ 50 General Savings

$ 500 Insurance (auto, health, life, homeowners, etc.)

$ 120 Long Term Savings/Investments/Debt

$ 1,000 Loan payments (auto, credit cards, home equity, student loan, etc.) $ 1,000

New Cars $ 300

Pet care (food, supplies, vet bills, etc.) $ -

Additional grocery expense w/ children $ -

Residence (mortage, rent, maintenance, etc.) $ 650

Family Entertainment $ 300

Taxes (federal, state, real estate, etc.) $ 500

Part time assistant (20hrs wk) $ 1,000

Utilities (gas, water, electricity, telephone, cable, etc.) $ 175

Extra savings for taxes$ 1,700

A TOTAL Monthly "Have-To" Expenses 3,325 B TOTAL Monthly "Want-To" Expenses $ 5,600 Financial Goals

C Total Monthly Financial Goal (A + B) $ 8,925 D Weekly Financial Goal (C / 4.333) $ 2,060 E Daily Financial Goal (D / 5) $ 412

18

YOUR NAMEMonthly Financial Goal $8,925

Annual Net Commissions $107,100Annual Gross Commissions $214,200

Commission earned (avg deal) $5,000Number of deals needed per month 2Avg % of Deals Closed from LOAs 90%LOAs I must get each month 2Avg % of LOAs received from Prospects 20%# of Prospects needed per month 10Avg % of Prospects converted from Suspects

5%# of Suspects needed per month 200# of Suspecting days per month 15

I must make this # of contacts each suspecting day 14I must make this # of contacts per week 53

19

What do you love?Accomplishment Support Create Magnificence Strengthen Attractiveness

Ethics Charity Order Enlightenment Bliss Constancy Generosity Inspiration Happiness Diversity Detection Self-worth

Hope Imagination Truthfulness Teaching Delight Alignment Innovation Honesty Gratitude Dare Consideration Resourcefulness

Health Fun Nurturance Excellence Nobility Responsiveness Observation Wisdom Reliability Information Awareness Compassion

Understanding Guidance Comprehending Humility Instruction Freedom Contentment Simplicity Community Merriment Organization Strength Intelligence Loyalty Amusement Assistance Peacefulness Being Recognition Calm Stability Dependability Danger EleganceAuthenticity Integrity Dignity Provider Victory Cooperation








COOKBOOK

20

What comes easily to you?

aka: Can you be competitive?

21

Time to ask questions…• Is anybody else doing it?

How successful are they, how many people do they have working for them, what are they offering, how long have they offered those things, how do they market, is there anything different that you think they could be doing…

COMPETITIVE ANALYSIS

• Is there an angle I can exploit?What do people want, how badly do they want those things, are they willing to pay to have that, can I provide what they want reliably, is it something that they want to do on their own, is there something that they don’t even know they want…CUSTOMER INTERVIEWS

22

Example1) Are you a parent? Y/N (if N thank them for their time and recruit someone else)

It will be important to not ask for the child’s name directly but ask the parent’s permission to ask questions regarding their child’s interest in bicycles. Our explanation is that we are doing research on a new child’s toy that will encourage physical activity and exercise.

It is also important to note that the questions will take roughly 5 minutes, with hints at how much time they have left or how many questions remain to be answered.

2) If your child is less than 12 years old, do they know how to ride a bicycle? Y/N3) Have you purchased a bicycle for your child? In the past week, month, year?4) Have you purchased more than one bicycle for your child? Y/N

If Y, how many?5) How much do you typically spend on your child’s bicycles:

less than $25between $25 - $50between $50 - $75between $75 - $100between $100 - $125over $125

6) How often does your child ride their bicycle? (never) 0 1 2 3 4 5 6 7 8 (all the time)7) Does your child ride their bike consistently?8) Does your child ride their bike with friends, family or solo?9) What % of the time does your child ride solo vs with others?10) How important is it for your child to be cool? (not at all) 0 1 2 3 4 5 6 7 8 (very)11) How fun is it for your child to be a part of a group? (not at all) 0 1 2 3 4 5 6 7 8 (very)12) How much is it worth to your child to be liked? (not at all) 0 1 2 3 4 5 6 7 8 (very much)13) How much does your child value free time? (not at all) 0 1 2 3 4 5 6 7 8 (very much)14) How often does your child play outside? (never) 0 1 2 3 4 5 6 7 8 (very often)15) How well does your child treat their bike? (not well at all) 0 1 2 3 4 5 6 7 8 (very well)16) What toys have you purchased your child recently (past year)?17) How often does your child play with those toy(s)? (not at all) 0 1 2 3 4 5 6 7 8 (very often)18) Does your child often lose interest in those toys? (not at all) 0 1 2 3 4 5 6 7 8 (very often)19) How much money do you spend on toys for your child per year? (rough numbers)20) How often does your child ask for toys? (not often) 0 1 2 3 4 5 6 7 8 (very often)21) How often is your child satisfied with their toys? (not often) 0 1 2 3 4 5 6 7 8 (very often)22) Have you ever purchased bicycle add-ons (streamers, etc)? Y / N

if so, what were they? about how much did those add ons cost?if not, why not?

23) What is your child’s favorite animal (now and historical)?24) How much does your child like animals? (not at all) 0 1 2 3 4 5 6 7 8 (very much)25) Has your child ever been horseback riding? Y / N

if so, did they enjoy it?if not, is it something they would be interested in?

26) Does your child enjoy visiting the zoo? Y / Nif so, what animal do they spend the most time looking at?if not, why not?

27) Is your child looking for a new toy that can be a part of their bicycle? Y / Nif so, have they been asking for something in particular?if not, why do you think that is?

28) How interested would your child be in a bicycle that looked like (insert their fav animal)? (not at all interested) 0 1 2 3 4 5 6 7 8 (very interested)Please explain.

29) How interested would your child be in a bicycle that looked like a horse/pony? (not at all interested) 0 1 2 3 4 5 6 7 8 (very interested)Please explain.

30) If you had a magic wand and could make that (the above) happen, how would you do it?

At the end please ask permission to gather their email and zipcode and to reassure the participant that they will not receive any spam from us, only a notification when our new product launches.

Be an anthropologist… Be curious

23

Outcomes• ID the target demographic• Uncover potential customer base and intensity of their pain points• Discover additional potential product offerings• Establish a direct line of communication to customers• Shed light on whether or not you want to put in the effort to make this

business happen or are flexible enough to pivot to another offering when necessary

If Henry Ford asked what people wanted, they’d say faster horses…

24

What comes easily to you?

• Research other similar companies (COMPETITIVE ANALYSIS)**Biggest competitor tends to be “doing nothing”

• Do initial customer interviews to get a pulse on the marketThis more often than not leads to your first customers

25

What pays you well?

aka: What is the business model?

26

27

28

29

Advice: Get Specific!How much are people going to cost?How much are your capital expenses?What is your monthly burn rate?What are your variable / fixed costs?Are there any fixed points at which $ need to be spent?How many people do you need to purchase your product

or use your service to break even? And how long will that take?

How will you get customers (ads, mktg channels, word of mouth)?

How will you show that you are different?

this is most definitely NOT an exhaustive list!

30

What pays you well?

Business Model Canvas + Specificity = Strong Foundation

31

ACT

32

Now what?• Work the model

• Establish metrics, tracking systems• Keep an eye on the cashflow as well as your other Key Performance Indicators• Know your costs: what your time is worth and the true value of the

customer/client BE A SCIENTIST

• Audition your offering to your customers and see how they respond• Take a lesson from Nike and Just do it™

BE AN ARTIST

• Prepare to balance the need for certainty with the courage to jump BE AN ENTREPRENEUR

33SUSTAIN

34

Rhythms: daily, weekly, monthly, quarterly, annuallyHire slow, fire fast

Be a living embodiment of your cultureFind mentors and mentees

Always ask for help when neededKnow when to hold ‘em and know when to fold ‘em – set predefined

metrics for failure and success and stay true to yourself

35

A good time to revisit…Why are we doing this to begin with?

We are eliminating pain in people’s lives

36

Thank you and good luck!

Free Start up DOPP kit with:Core Value ExerciseCookbook ExampleBusiness Model Generation Book

Patrick [email protected]